Russian regulatory body Glavgosexpertiza has reviewed and approved Novatek’s third liquefied natural gas project in the Arctic, named Obsky LNG.
The regulator noted that the facility to be located on the western shore of the Gulf of Ob on the Yamal Peninsula has a three-stage construction plan.
During the first stage, the reconstruction of the existing berths will take place, while the second stage will see the construction of a pier with a flyover from the liquefied natural gas plant and coastal infrastructure. In the third stage, the project includes works in the water area in the technological pier.
The planned handling capacity of the terminal is 5 million tons of liquefied natural gas per year.
The documents also show that the facility will be capable of handling at least 65 liquefied natural gas carriers annually.
In an interview with LNG World News in December last year, Novatek’s finance chief Mark Gyetvay said the project will have two trains with 2.5 mtpa production capacity each.
The plant will be based on a modified version of the Arctic Cascade technology which is currently being used to finalize the construction of Yamal LNG’s Train 4.
A final investment decision on the project is expected in the second half of 2020.
Novatek’s unit, Obsky LNG has already signed a EPC contract with a joint venture formed by two VINCI Construction unit, Entrepose Contracting and VINCI Construction Grands Projets for the construction of two full containment 160,000-cbm cryogenic LNG tanks.